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Cyrus Pallonji Mistry on Wednesday termed the judgment of the National Company Law Appellate Tribunal (NCLAT) to restore him as Executive Chairman of Tata Sons Limited as the victory for the principles of good governance and minority shareholder rights."Today's judgment is not a personal victory for me, but is a victory for the principles of good governance and minority shareholder rights. For over fifty years, the Mistry family, as the significant minority shareholder of Tata Sons, has always endeavoured to play the role of a responsible guardian of an institution that the entire nation is proud of," Mistry said in a statement."The outcome of the appeal is a vindication of my stand taken when the then board of Tata Sons, without warning or reason removed me, first as the executive chairman, and subsequently as a director of Tata Sons. My endeavor as Executive Chairman had always been to establish a culture and processes that promote effective board governance to create long term stakeholder value, sustainable profits and growth," it said.Mistry, who was the sixth chairman of Tata Sons said that it is now time for everyone in the company to work together for sustainable growth and development of the Tata Group."For the Tata Group to prosper as an institution, it is important that the management of individual compes, their Boards, the management of Tata Sons, the Board of Tata Sons and the shareholders of Tata Sons, all work harmoniously within a robust governance framework, that in substance and form, protects the rights of all stakeholders, including shareholders, investors and the Tata Groups employees, who represent the strongest asset of the Group," read the statement.Earlier in the day, the NCLAT restored Cyrus Mistry as the Executive Chairman of the Tata Group and held that the appointment of N Chandrasekaran was illegal.However, the tribunal said the restoration order will be operational only after four weeks, the time allowed to Tatas to file an appeal.The Mumbai bench of the National Company Law Tribunal (NCLT) had dismissed the petitions filed by the two investment firms Cyrus Investments Pvt Ltd and Sterling Investments Corp challenging Mistry's removal.Later, Mistry had also personally approached the NCLAT over the NCLT order.Mistry, who was the sixth chairman of Tata Sons, was ousted from the position in October 2016. He had taken over as the chairman in December 2012 after Ratan Tata announced his retirement.The Mistry camp had challenged the July 9 order of the Mumbai bench of the NCLT which dismissed the pleas against his removal as Tata Sons chairman, as also the allegations of rampant misconduct on part of Ratan Tata and the company's board.Mistry in his pleas primarily argued that his removal was not in accordance with the Compes Act and that there was rampant mismanagement of affairs across Tata Sons.Meanwhile, Tata Sons in a statement said that the NCLAT order appears to even go beyond the specific reliefs sought by the Appellant."Tata Sons strongly believes in the strength of its case and will take appropriate legal recourse", the group said.( With inputs from ANI )

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Despite the NCLAT ruling in his favour, Cyrus Mistry said on Sunday that he is not pursuing the Tata Sons' top position but targeted Chairman emeritus Ratan Tata on multiple counts, including for ignoring the rights of minority shareholders and "oppr ...

Cyrus Mistry on Sunday said that he will not be pursuing the executive chairmanship of Tata Sons or directorship of TCS, Tata Teleservices or Tata Industries, but "will, however, vigorously pursue all options to protect our rights as a minority share ...

As the Tata-Mistry tussle escalates, Ratan Tata on Friday moved the Supreme Court in his personal capacity challenging the NCLAT's verdict reinstating Cyrus Mistry as the Tata Sons Chairman, alleging that in an instance of conflict of interest, Mistr ...

A day after Tata Sons moved the Supreme Court challenging the NCLAT's judgement reinstating Cyrus Mistry as the group's Chairman, Ratan Tata, the Chairman Emeritus filed a petition in his personal capacity claiming that the appellate tribunal's verdi ...

The Tata Sons Limited on Thursday approached the Supreme Court against the order of the National Company Law Appellate Tribunal (NCLAT) which reinstated Cyrus Mistry as executive chairman of the company. ...

The Registrar of Companies under the Corporate Affairs Ministry on Monday moved the National Company Law Appellate Tribunal seeking modification in its order in the Tata Sons matter where it wants removal of the word "illegal" with respect to convers ...

As an implication of NCLAT's order converting Tata Sons back to a public limited company, the Mistry family is now completely free to sell or retain their minority shareholding as per their choice in the holding firm of the conglomerate. ...

Cyrus Pallonji Mistry on Wednesday termed the judgment of the National Company Law Appellate Tribunal (NCLAT) to restore him as Executive Chairman of Tata Sons Limited as the victory for the principles of good governance and minority shareholder righ ...